Business and industry are planning to borrow from the central bank



Saturday 2 April 2016 | 13:05
| Number of Views: 24

BAGHDAD / … said operating loans department in the Ministry of Labour and Social Affairs, and the Directorate of Industrial Development at the Ministry of Industry, during a meeting to prepare a study to borrow from the central bank, under the proposed lending program funded from the bank.

A statement by the Ministry of Labour, “Eye of Iraq News” received a copy of it, that “operating loans circle meeting with representatives of the Directorate General for Industrial Development to study the proposal funded by the Central Bank lending program based on Minister Mohammed Shia ‘Al Sudani directives,” explaining that “the meeting which was attended by officials loans internal and legal oversight and calculator sections in the operating department discussed the future mechanisms of action to be implemented in cooperation with the Industrial development Directorate, as well as the private lending program of the Central Bank. “

The meeting recommended, according to the statement, to “prepare the stomach from both sides regarding the amount required lending from the central bank study, submitted to higher authorities for consideration and make the necessary decisions on them.”

The statement pointed out that “the work of the Industrial Development Directorate based on the private industrial investment law and mixed No. 20 of 1998,” noting that “the law guarantees many by outstanding that benefit the industry, such as tax exemptions and allocation of land within the industrial zones.”

“The law also includes the establishment of a small or medium projects in the industrial areas that include (food, and textile, construction, engineering and software, and chemical).” End


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